June 9, 2022 The Postal Service’s chief financial officer, Joe Corbett, reviews fiscal year 2022’s second quarter (Jan. 1-March 31) in his latest “Dollars and Change” video. USPS reported $19.8 billion in operating revenue, total operating expenses of $20.4 billion and an adjusted loss of $1.7 billion for the quarter. The organization also reported improvements…
Press Release – April 26, 2021 Washington, DC – The Postal Regulatory Commission (Commission) today released its Financial Analysis, an examination of the U.S. Postal Service’s (Postal Service) financial results and 10-K Statements for Fiscal Year (FY) 2020. Despite an increase in Competitive products revenue, the Commission’s overall analysis supports the conclusion that the Postal…
Chief Financial Officer Joe Corbett discusses the Postal Service’s year-end financial report in his latest “Dollars and Change” video. USPS recently reported $73.1 billion in operating revenue for fiscal year 2020 (Oct. 1, 2019-Sept. 30, 2020) and $82.2 billion in operating expenses, leaving the organization with a net loss of $9.2 billion. First-Class Mail and…
The Postal Service has reported its financial results for fiscal year 2020 (Oct. 1, 2019-Sept. 30, 2020). Here are some highlights: • Revenue. Operating revenue was $73.1 billion, up 2.8 percent from the previous fiscal year, driven by a 25.3 percent increase in shipping and package revenue. First-Class Mail revenue fell 2.7 percent, while Marketing…
The Postal Service has reported its financial results for fiscal 2017’s second quarter (Jan. 1-March 31, 2017). Here are some highlights: • Controllable income. USPS posted controllable income of $12 million for the second quarter, below the $576 million it posted during the same quarter last year. Controllable income describes net income (or loss) that…
Excluding the effects of a $1.7 billion change in its workers’ compensation liability due to fluctuations in interest rates, the Postal Service has posted a net loss of approximately $200 million for fiscal 2017’s first quarter (Oct. 1-Dec. 31, 2016). USPS also reported that net income for the quarter was approximately $1.4 billion. Controllable income…
The Postal Service has reported operating revenue of $17.7 billion for fiscal 2016’s second quarter (Jan. 1-March 31, 2016), an increase of $788 million — or 4.7 percent — compared to the same period one year earlier. The increase was attributed to an 11.4 percent increase in package volumes and pricing strategies. “While we have…
It’s hard to know whether the U.S. Postal Service should have as its theme song “We’re in the Money” or “Brother, Can You Spare a Dime?” Its just-released financial results for the first quarter of fiscal 2016 suggest both are accurate – depending on how you read the statements. Spurred by record volume of holiday…
